We are alfo told, faid Mr. B. that the people are prejudiced against fuch currency, and will not receive the notes. Where is the evidence? Is it to be found in the general circulation of bank notes; or, on the contrary, does not the general confidence repofed in that fpecies of paper prove precifely the reverse-that there exifts no fuch prejudice? Money is not a confumable article. It is ufed for the payment of debts and the purchase of fupplies. A medium which will attain these objects in an equal degree, anfwers the purposes of money, as do bank bills. While thefe treafury notes will be thus circulated, they will poffefs feveral advantages over bank paper. They draw intereft at the rate of one and an half cent per day for every hundred dollars. They will be receivable for all debts due the United States-bank notes are not fo. Hence there will be a demand for them throughout the United States, and confequently their currency will not be confined to a particular fection only. Such is not the cafe with bank notes, as every gentleman who has travelled muft have experienced. Thele notes have been purpofely compared to Exchequer Bills in England; and gentlemen infift that in order to prevent depreciation, we thould do as is done there-lay taxes and provide a fund fpecially for their reimbursement. Mr. B. faid, that the payment of exchequer bills never had been at any time fo well fecured as that of the bills we now propofe to iffue. Nor is it true, that a particular fund is always fet apart for their reimbursement. They were originally iffued on the credit of government alone, and it was not until that credit was impaired by a want of punctuality in the fulfilment of engagements, that it became neceflary to mortgage particular funds. Like an individual in good credit, the evidence of the debt only was required; but fince, like a man in bad credit, it became indifpenfable to give fecurity in the fhape of mortgage. Now, however, fuch fecurity is tnore a matter of form than reality, inafmuch as the fund pledged is known to be uniformly infufficient. And indeed it is not unufual at this time to iffue exchequer bills without affigning any particular fund for their payment. During the administration of the late Mr. Pitt, they were iffued to an unusually large amount, with no other pledge than the promise of government that they fhould be paid when due, and if not fo paid that they should be receivable in taxes for the fucceeding year. The treafury notes will have two obvious advantages over the exchequer bills. One arifing from the fuperior credit of the government of the United States, and the other from their being receivable in payment of duties, fales of public lands, and all debts due the U. States. Here there is the fecurity for their reimbursement-a fcurity as perfect as could be rationally required. This paper will be preferred to the public stocks, because thus receivable, and because while it anfwers the purposes of gold and filver, it is conftantly productive by the intereft daily accruing. So far as the government is concerned, it is preferable to ordinary loans, because

they take the amount borrowed out of the ufual channel of circulation, thereby increafing the demand for money and enhancing the rate of intereft; while the treafury notes, being an additional medium thrown into circulation equal to their whole amount, diminish the demand for money and lower the rate of intereft. There is another advantage arifing from the circumftance, that thefe bills will be iffued from time to time according to the wants of government, while a loan for the year is obtained before the money is immediately wanted, and neceffarily bears an intereft of fix per cent.

Another objection, however, (faid Mr. B.) has been urged, which, although deftitute of foundation, is calculated more than probably any other to present this bill to the public in an odious afpect. It is, that the proposed paper is the lame as the old continental money, and will, like that, depreciate in value. In what refpect, he would afk, confifted the fimilitude? In nothing ex. cept that that was paper, and fo is this, and fo is bank notes, and all notes. Are all notes therefore the fame? The old Congrefs illued paper not bearing intereft, called continental money, which entitled the holder to the fum expreffed on the face, without any pledge to reimburse at a given time, and known to be unable to give fuch pledge, being altogether dependent for refources on the respective states, whom they had not the power to control. That paper depreciated, as was to have been expected-fo did their loan office certificates; and gentlemen may with as much propriety affert that the prefent ftock of the United States is the old loan office certificates. What are the circumftances under which we now propafe iffuing treafury notes? The credit of the government is above fufpicion-its power to raise revenue complete, and its ability to pay the debts of the United States undoubted. And while the propofed notes are made payable one year after the date of their issue, bearing an intereft of near fix per cent they may be paid into the public treasury at any time, as gold or filver. The difference between this currency and the old continental money, appeared to him fo obvious, that he confidered further illuftration unneceffary. It was at leaft as wide as between the note of a man not worth a cent, and that of the moft wealthy and punctual individual in the nation.

Mr. B. noticed fome other views which had been prefented in oppofition to the bill, and concluded by expreffing his perfect conviction of the propriety of the measure.

LIST OF ACTS

Passed at the First Session of the Twelfth Congress.

1 An act to authorize the transportation of certain documents free of poftage.

2 An act to alter the time of holding one of the terms of the diftrict court in the diftrict of Maine.

3 An act for the relief of Jofiah H. Webb.

4 An act for the apportionment of reprefentatives among the feveral ftates, according to the third enumeration.

5 An act extending the time for opening the feveral land offices established in the territory of Orleans.

6 An act for the relief of Abraham Whipple, late a captain in the navy of the United States.

7 An act allowing further time for completing the payments on certain lands, held by right of pre-emption in the Miffiffippi territory.

8 An act to authorife the laying out and opening a public road from the line established by the treaty of Grenville, to the north bend in the ftate of Ohio.

9 An act for the relief John Burnham.

10 An act directing the terms on which lands fold at public fale, and that revert for failure in payment, fhall again be fold.

11 An act authorifing the purchase of ordnance and ordnance ftores, camp equipage, and other quarter-master's ftores, and fmall arms.

12 An act to alter the time of holding the diftrict courts of the United States for the North Carolina diftrict.

13 An act to empower the fecretary of the trealury to decide on the cafe of the thip Eliza Ann, belonging to Ezekiel Hubbel; and the cafe of the fhip Mary & Francis, belonging to "Nathaniel Goldard.

14 An act to continue in force, for a further time, the firft fec tion of the act, entitled "An act further to protect the commerce and feamen of the United States against the Barbary powers.

15 An act for completing the exifting military establishment. 16 An act authorifing the Prefident of the United States to raife certain companies of rangers for the protection of the frontier of the United States.

17 An act to raise an additional military force.

18 An act authorifing the Prefident of the United States to accept and organize certain volunteer military corps.

19 An act to alter the times of holding the diftrict court within and for the diftrict of Connecticut.

20 An act for the revifion of former confirmations, and for confirming certain claims to lands in the district of Kafkafkia. 21 An act for the more convenient taking of affidavits and bail in civil caufes depending in the courts of the United States.

22 An act to authorise the secretary of the treasury to locate

the lands referved for the ufe of Jefferson College in the Miffiffippi territory.

23 An act making an appropriation for the expenses incident to the fix companies of mounted rangers, during the year 1812. 24 An act making appropriations for the fupport of an addition. ål military force.

25 An act making appropriations for the fupport of the navy of the United States, for the year 1812.

26 An act for the relief of Captain Selah Benton.

27 An act to establish a land diftrict in the Illinois territory, caft of the diftrict of Kafkafkia, and to attach certain public lands to the district of Jeffersonville.

28 An act making appropriations for the fupport of the mili tary establishment of the United States, for the year 1812.

29 An act fupplementary to "An act to raife, for a limited time, an additional military force," paffed on the 12th April 1808.

30 An act making appropriations for the fupport of the gov ernment, for the year 1812.

31 Refolution-granting permiffion to the judges of the fupreme court of the United States to ufe the books in the library of Congrefs.

32 An act to authorife the fecretary of the treafury, under the direction of the Prefident of the United States, to purchase of Winflow Lewis, his patent right to the new and improved method of lighting light-houses, and for other purposes.

33 An act fupplementary to "An act providing for the accommodation of the general poft-office and patent-office, and for other purposes."

34 An act to alter the time of holding the circuit courts of the United States at Knoxville, in the district of east Tennessee, in the state of Tenneffee.

35 An act making a further appropriation for the defence of our maritime frontier.

36 An act for the relief of the board of commiffioners, west of Pearl river.

37 An act giving further time for regiftering claims to land in the western diftrict of the territory of Orleans.

38 An act authorifing a loan for a fum not exceeding eleven millions of dollars.

39 An act fupplementary to "An act to raise an additional military force."

40 Refolution on the fubject of arts and manufactures.

41 An act to incorporate the trustees of the Georgetown Lancafter school fociety.

42 An act repealing the tenth fection of the act to incorporate the fubfcribers to the Bank of the United States."

43 An act making a further appropriation for the support of a library.

44 An act to authorise the furveying and marking of certain roads, as contemplated by the treaty of Brownftown, in the territory of Michigan.

45 An act for the relief of Thomas O'Bannon.

46 An act respecting the enrolling and licencing of steam boats. 47 An act to alter the time of holding the circuit court in the firft diftrict.

48 An act granting to the corporation of the city of New Orleans the use and poffeffion of a lot in the faid city.

49 An act to authorife a detachment from the militia of the United States.

1

50 An act for the relief of the officers and foldiers who ferved in the late campaign on the Wabash.

51 An act laying an embargo on all fhips and veffels in the ports and harbors of the United States, for a limited time.

52 An act for the admiffion of the state of Louisiana into the Union, and to extend the laws of the United States to the faid ftate:

53 An act concerning the naval establishment.

54 An act for the relief of Thomas Wilfon.

55 An act for the relief of Thomas Orr.

56 An act in addition to the act, entitled "An act to raise an additional military force," paffed January 11, 1812.

57 An act to establish a quarter-master's department, and for other purposes.

58 An act to authorise the granting of patents for land, according to the furveys that have been made; and to grant donation rights to certain claimants of land in the district of Detroit; and for other purposes.

59 An act to authorise the secretary for the department of war to exchange lands with the Urfuline nuns, of the city of New Orleans.

60 An act for the organization of a corps of artificers.

61 An act making provision for certain perfons claiming lands under the several acts for the relief of the refugees from the Britifh provinces of Canada and Nova Scotia.

62 An act for the relief of William Hubbell;

63 An act giving further time to the purchasers of public lands north weft of the river Ohio to complete their payments.

64 An act for the relief of Aaron Greeley.

65 An act giving further time for registering claims to land in the eastern diftrict of the territory of Orleans.

66 An act to enlarge the limits of the ftate of Louisiana.

67 An act for ascertaining the titles and claims to lands in that part of Louisiana which lies eaft of the river Miffiffippi, and island of New Orleans.

68 An act to continue in force for a limited time an act, entitled "An act continuing for a limited time the falaries of the officers of government therein mentioned."